Educational guide · Texas
Texas mortgages for the Hispanic community.
Texas has one of the most accessible mortgage markets in the U.S. for Hispanic buyers, foreign investors, and self-employed borrowers. Here's how the landscape works — and how to get notified when we can help you directly.
Why Texas
Texas has no state income tax, housing costs remain reasonable in most major metros (Houston, Dallas–Fort Worth, San Antonio, El Paso, McAllen, Austin), and the Hispanic population is among the largest in the country. For Hispanic buyers, self-employed borrowers, and ITIN holders, Texas is one of the states where non-traditional mortgage programs are most common and most competitive.
ITIN in Texas
If you don't have a Social Security number but hold an ITIN, you can still qualify for a Texas mortgage. ITIN programs typically require 15–25% down, a verifiable payment history (rent, utilities, auto), and proof of income. U.S. citizenship and permanent residency are not required.
Bank statement loans
If you're self-employed, a contractor, or a small-business owner and your tax return understates your real income, bank-statement loans use 12 or 24 months of deposits as proof of income — no W-2s or traditional tax returns required.
DSCR — rental investment
DSCR loans qualify the investor based on the property's rent, not on the borrower's personal income. It's the most common route to build a rental portfolio in Texas without traditional income documentation.
Foreign National
Foreign National programs let non-U.S. residents buy property (including under an LLC). Texas does not restrict foreign ownership in most cases, though newer rules apply to certain countries — consult an attorney before closing.
Texas basics you should know
High property tax. Texas makes up for the absence of a state income tax with higher property-tax rates — typically 1.6% to 2.3% of assessed value annually. This meaningfully changes how much house you can afford.
Homestead exemption. If the home is your primary residence, you can file a homestead exemption with the county to lower the taxable value. It's a significant benefit and is filed once.
Deed of trust. Texas uses a deed of trust rather than a traditional mortgage. A title company handles closing and issues title insurance that defends your ownership if someone later disputes the title.
Flood and hazard insurance. On the Gulf Coast (Houston, Corpus Christi, Galveston) and parts of the Rio Grande Valley, flood insurance is required. In North Texas, hail and tornado coverage adds cost. Budget for it when estimating a monthly payment.
How to prepare (even though we can't help you in Texas yet)
- Document your income. If self-employed, save 12–24 months of bank statements. For ITIN, build verifiable payment history (rent paid by check or app, utilities in your name).
- Save the down payment. For ITIN and Foreign National, plan on 15–25%. For bank statement, 10–20%. For DSCR investment, 20–25%.
- Avoid large unexplained deposits. Any sizable undocumented deposit complicates closing. The paper trail matters.
- Don't open new credit. From 60 days before applying through closing, don't open credit cards or finance cars — it drops your score and changes your debt-to-income ratio.
- Get informed. Read our Texas-specific guides: homestead exemption for ITIN and cash-out refinance 50(a)(6) with ITIN. Also: glossary, and the program pages for ITIN, bank statement, and DSCR.
Join the Texas interest list
When we're licensed in Texas, we'll let you know first. No spam, no obligation. Your info is only used to notify you.
Join the interest list (Texas)This page is informational only. Icon Mortgage is not currently licensed by the Texas Department of Savings and Mortgage Lending (SML) and is not registered with NMLS to originate mortgage loans in Texas. Nothing on this page constitutes an offer, a loan commitment, or a rate quote. Rates, terms, and program availability change — consult a Texas-licensed lender before making financial decisions.